Seminole Electric Cooperative, FL's ICR Outlook Revised to Negative
- ID: 1710320
- October 2003
- Standard & Poors
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Research type: News
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NEW YORK (Standard & Poor's) Oct. 8, 2003-Standard & Poor's Ratings Services revised its issuer credit rating (ICR) outlook on Seminole Electric Cooperative, Fla. to negative from stable, reflecting concerns over Seminole's thin financial margins and low cash liquidity forecast over the next several years. Standard & Poor's also affirmed its 'A' ICR on Seminole, reflecting Seminole's strong capacity to meet financial obligations through all-requirements wholesale power agreements with the 10 member distribution cooperatives located throughout the state. "Seminole's ICR will be lowered if actual financial margins deteriorate to break-even levels, as forecast, diverging from past results," said Standard & Poor's credit analyst Jodi Hecht. "Although management of divergent needs of members remains an issue for Seminole, neither the revenue...
Companies mentioned in this report are: Seminole Elec Coop
Action: Outlook Revised